Explain How a Customer Focus Can Result in Increased Profits

question 170

Essay

Explain how a customer focus can result in increased profits for a company.

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Definitions:

Uncertainty Reduction

The process of acquiring information to minimize the uncertainties about decision-making or more fully understand a situation.

Optimizing

The process of making the best or most effective use of a situation, resource, or opportunity with the goal of achieving the optimum outcome.

Implementation Stage

The phase in a project or strategy where plans are executed and theories are put into practice.

Ethics Double-check

A process of verifying that actions or decisions adhere to moral and ethical standards.